India, with its large pool of talented professionals and specialized domain workers, is quickly becoming the central hub for what is known as Knowledge Process Outsourcing (KPO).
The Indian KPO sector offers global customers with a wide range of services among various industry verticals. Apart from IT/ ITES related services, the KPO industry provides several knowledge-based solutions such as Engineering Services, Web Application Development, CAD/ CAM Applications, Legal Processes, Intellectual Property and Patent Services, Business Research and Analytics, Legal Research, Clinical Research, Publishing and Market Research amongst others. This is why KPO is also known as a business research process.
With the current highly competitive market scenario, many global companies and organizations are making the choice of focusing on their core business areas and outsourcing all of their other non-core business activities. This gives them the advantage of minimizing their costs, improving efficiencies and shifting the focus onto the key growth areas of their business. Outsourcing knowledge-based services to India offers companies with greater benefits, as they can get access to domain-based processes and advanced analytical skills, rather than just process expertise.
Today, the Indian KPO sector offers organizations the choice of a multitude of knowledge-based services across industry verticals. Indian outsourcing companies, such as, Outsource2india are experts in:
India possesses a large number of specialized domain experts such as engineers, PhDs, CAs, lawyers, CAD/ CAM experts, architects, biotechnologists, economists, statisticians and MBAs. Tapping into this talent pool allows overseas companies to gain superior quality KPO services at cost-effective prices. On the Indian side, KPO salaries tend to be 25–30% higher when compared to those offered to specialized domain experts, thereby encouraging more knowledge-based professionals to enter the KPO industry.
The National Association of Software and Service Companies (NASSCOM) has predicted that India will acquire a 70% share in the growing KPO Industry. According to ASSOCHAM, Indian KPO market has been growing at a compounded annual growth rate of approximately 30% and is expected to touch $30 billion by 2015. If these figures prove to be correct, we have a reason to believe that the future trend of Indian KPO industry will be bright for years to come. Another main contributor to the KPO boom will be the BPO sector itself, which will contribute nearly 50% towards the newly developing KPO industry. This is because of the metamorphosis of many call centers into KPO centers, which are now offering extra value-added KPO services along with their regular BPO services.
With Indian KPO companies experiencing a tremendous growth phase, the industry will have to focus on developing a stronger base of qualified KPO professionals. Professionals in the fields of engineering, medicine, law, management and accountancy amongst others will have to be recruited and trained to fill this growing need. Another challenge faced by India is the emerging competition from new entrants into the field, such as Russia, China, the Czech Republic, Ireland and Israel. Outsourcing companies dealing with KPO will have to invest in the latest technology and infrastructure, acquire better talent and provide higher quality standards in order to remain industry leaders.
Established in the year of 2002, Outsource2india is a premier outsourcing company that has extensive expertise in offering KPO services to companies across the globe. Our KPO departments offer customized services that cover a wide range of industry verticals. All of our services are cost-competitive, helping you make significant cost savings and focus on core competencies.
We offer custom-designed KPO services that are based on your specific business requirements. With our cost-effective services, timely deliveries, and guaranteed quality, your organization can make informed business decisions and get ahead of your competitors.